Andile Ngcaba’s Convergence Partners Investments is rebranding as Solcon Capital and will focus its investment efforts in South Africa, India and Southeast Asia.
The name change also sees the appointment of a CEO, Pramod Venkatesh, who will take the reins on 1 August.
Venkatesh has “extensive experience in managing and building deep tech companies from the ground up garnered from Silicon Valley”, Solcon Capital said in a statement.
Until now, Venkatesh has been group chief technology officer of inq., where he was responsible for building products and solutions around artificial intelligence, software-defined networks and edge computing.
“Under this new brand, Solcon will focus on international deep tech investments in generative AI and large language models (LLMs), synthetic data and big data, cybersecurity, and quantum computing across South Africa, India and Southeast Asia, leveraging scale through platform economics.”
Ngcaba remains “firmly invested in and continues to drive the growth at Convergence Partners, which will continue to focus on private equity through its current and future digital infrastructure funds”. He will chair Solcon Capital.
Read: Andile Ngcaba’s inq. to acquire South Africa’s Syrex
Solcon plans to unveil a “flagship, AI-based investment platform” called Solcon 360 in October. “With its own LLM, Solcon 360 will allow investment companies to capitalise on generative AI and build custom models tailored to their investment needs.” — © 2023 NewsCentral Media